A, B and C were partners in a firm sharing profits in the ratio of 3 : 2 : 1 . Their Balance Sheet as on 31st March, 2015 was as follows: From 1st April, 2015, A, B and C decided to share profits equally. For this it was agreed that: (i) Goodwill of the firm will be valued at ₹ 1,50,000. (ii) Land will be revalued at ₹ 80,000 and building be depreciated by 6%. (iii) Creditors of ₹ 6,000 were not likely to be claimed and hence should be written off. Prepare Revaluation Account , Partners Capital Accounts and Balance Sheet of the reconstituted firm.

A, B and C were partners in a firm sharing profits in the ratio of 3 :

1.	A, B and C were partners in a firm sharing profits in the ratio of 3 : 2 : 1 . Their Balance Sheet as on 31st March, 2015 was as follows: From 1st April, 2015, A, B and C decided to share profits equally. For this it was agreed that: (i) Goodwill of the firm will be valued at ₹ 1,50,000. (ii) Land will be revalued at ₹ 80,000 and building be depreciated by 6%. (iii) Creditors of ₹ 6,000 were not likely to be claimed and hence should be written off. Prepare Revaluation Account , Partners Capital Accounts and Balance Sheet of the reconstituted firm.
Answer» ce of the A = Old RATIO- New ratio = - = Sacrifice of the B = Old ratio- New ratio = - = NilSacrifice of the C = Old ratio- New ratio = - = EXPLANATION:Old ratio : 3 :2 :1New ratio : 1: 1 :1Sacrifice of the A = Old ratio- New ratio = - = Sacrifice of the B = Old ratio- New ratio = - = NilSacrifice of the C = Old ratio- New ratio = - =

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